JPMorgan plans trigger phoenix autocallables linked to S&P, Russell

By Angela McDaniels

Tacoma, Wash., Sept. 23 – JPMorgan Chase & Co. plans to price trigger phoenix autocallable optimization securities due Sept. 28, 2018 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 7% to 7.5% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter. The exact contingent coupon rate will be set at pricing.

Beginning March 29, 2016, the notes will be called at par of $10 plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date.

If the notes are not called and each index finishes at or above its 60% trigger level, the payout at maturity will be par plus the final contingent coupon, if any. Otherwise, investors will be fully exposed to the decline of the lesser-performing index.

UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.

The notes will price Sept. 28 and settle Sept. 30.

The Cusip number is 48127Y789.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.